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Certificate of deposit

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According to a review of the bank on top10banks.org, MidFirst bank has officially lowered its High Yield Online CD rates from .45 in 2015 to .30 in 2016. This rate is for their 91 day term certificate of deposit with a minimum balance of $1,000. The one-year CD rate however has risen from .35 in 2015 to .75 in 2016. The incentive here is for a longer term period yielding a higher return. The bank…

You know that an emergency fund is a necessity if you want to achieve financial security and freedom. However, it can be rather depressing to see the rate which you earn interest on a savings account. Traditional savings accounts can be especially depressing. But that is the price you pay for the liquidity and access that you get with a savings account, right? [ad#Content 300×250] You can get slightly higher CD rates — and the…

Have you ever wondered what a stock, bond, or mutual fund are exactly? If so, then this is the post for you. These terms are thrown around daily on stations like CNBC. It’s just expected that the average person knows what they are and the differences between them. Well I have found that this is not always the case. Stocks A stock is simply ownership in a corporation. Stockholders are known as equity holders. An…

One of the ways that you can save for retirement is to open an IRA. An IRA is a tax-advantaged retirement account that allows you to build a nest egg through investments. There are any number of investments that can be held in an IRA, including Certificates of Deposit (CDs). When you have a CD in your IRA, the interest earned is either tax-deferred (Traditional IRA) or tax-free (Roth IRA). Many banks are starting to…